Geode Capital Management LLC Has $36.12 Million Stake in Applied Optoelectronics, Inc. (NASDAQ:AAOI)

Geode Capital Management LLC boosted its stake in shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI - Free Report) by 7.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 979,769 shares of the semiconductor company's stock after purchasing an additional 70,210 shares during the quarter. Geode Capital Management LLC owned approximately 2.09% of Applied Optoelectronics worth $36,123,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AAOI. Corebridge Financial Inc. lifted its position in Applied Optoelectronics by 2.4% in the 4th quarter. Corebridge Financial Inc. now owns 20,253 shares of the semiconductor company's stock valued at $747,000 after purchasing an additional 471 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Applied Optoelectronics by 3.4% in the third quarter. The Manufacturers Life Insurance Company now owns 14,667 shares of the semiconductor company's stock valued at $210,000 after purchasing an additional 483 shares during the period. Arizona State Retirement System raised its holdings in shares of Applied Optoelectronics by 5.7% during the fourth quarter. Arizona State Retirement System now owns 11,246 shares of the semiconductor company's stock valued at $415,000 after buying an additional 603 shares during the last quarter. Virtu Financial LLC boosted its position in shares of Applied Optoelectronics by 3.6% during the fourth quarter. Virtu Financial LLC now owns 25,529 shares of the semiconductor company's stock worth $941,000 after buying an additional 895 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in Applied Optoelectronics in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 61.72% of the company's stock.

Applied Optoelectronics Price Performance

AAOI stock traded up $0.23 during trading hours on Friday, hitting $10.66. 2,060,004 shares of the stock traded hands, compared to its average volume of 3,121,118. The stock has a 50-day simple moving average of $18.26 and a 200 day simple moving average of $25.07. The company has a market cap of $531.41 million, a P/E ratio of -5.17 and a beta of 2.57. Applied Optoelectronics, Inc. has a one year low of $6.70 and a one year high of $44.50. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). Applied Optoelectronics had a negative return on equity of 22.36% and a negative net margin of 38.61%. The business had revenue of $100.27 million during the quarter, compared to analyst estimates of $99.92 million. Equities analysts forecast that Applied Optoelectronics, Inc. will post -1.18 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $36.00 target price on shares of Applied Optoelectronics in a research note on Friday, March 14th. StockNews.com upgraded shares of Applied Optoelectronics to a "sell" rating in a research note on Wednesday, February 26th. B. Riley raised shares of Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 price objective for the company in a report on Friday, March 7th. Finally, Raymond James lowered their target price on shares of Applied Optoelectronics from $31.00 to $20.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $23.60.

Insider Transactions at Applied Optoelectronics

In related news, CFO Stefan J. Murry sold 2,298 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $35.17, for a total value of $80,820.66. Following the completion of the transaction, the chief financial officer now owns 209,831 shares of the company's stock, valued at approximately $7,379,756.27. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 6,298 shares of company stock valued at $148,841 in the last three months. 4.96% of the stock is currently owned by corporate insiders.

Applied Optoelectronics Profile

Applied Optoelectronics, Inc designs, manufactures, and sells fiber-optic networking products in the United States, Taiwan, and China. It offers optical modules, optical filters, lasers, laser components, subassemblies, transmitters and transceivers, turn-key equipment, headend, node, distribution equipment, and amplifiers.